Summary:
By Express News ServiceHYDERABAD: Indian Institute of Technology Hyderabad-incubated startup PURE EV has raised venture capital funding of $35 million from Hyderabad-based pharmaceuticals visionary VC Nannapaneni, in his personal capacity. The funding is coming at an opportune moment for the company with its plans for expansion of its manufacturing capacity and R&D initiatives. PURE EV is now looking to ramp up its EV manufacturing capacity to 2000 units per month by October 2019. PURE EV recently launched four two-wheeler models - ‘EGNITE,’ ‘ETRANCE,’ ‘EPLUTO’ and ‘ETRON’. It aims to deploy over 10,000 electric vehicles on the road during 2019-20..